Mining Ministry not in favor of Iron Ore mining and export ban in Goa, INDIA
November 9th 2011 14:06
Link: www.businessfork.com
About 25 mines in Goa have exceeded the extraction limit in Goa and action has been initiated against them by Indian Bureau of Mines (IBM). The IBM has already taken action against 19 mines in Goa.
The production from 114 mines in Goa is within the permissible run-of-mines production as in approved mining plan. Almost 44 mines has cross the limit of extraction of ore in Goa by 20 percent
The excess export of iron ore from Goa was due to the process and exporting of waste dumps lying at various locations in Goa. The old dumps of Iron Ore in Goa consist of average grade of 45 percent iron content. Since this grade ore was not having any commercial value the miners stocked this grade near to their provided leased area. The stocks were kept on piled up by the miners and presently account around 700 million tons and with the boom in low grades and China showing interest in low grades, the value of these dumps is in Crores of rupees.
Goa is India’s largest exporter state and second largest producer of Iron Ore. The production of Iron Ore in Goa is around 35 million tons but exports are around 55 million tons. The balance 20 million tons is accounted from the old iron ore dumps lying in Goa.
The Mines Ministry is not in favor of ban on Iron Ore mining and exports from Goa then also the fears are rising among the miners. The Shah Commission doesn’t have any deadline for submitting its final reports.
The irregularities in Goa mining operation are in limelight and everyone is pointing it out along with the higher authorities.
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